An Insight Into the Mallorca Property Market

In 2008, when the rest of the world is coming to terms with recession and slowdown in the real estate markets, Mallorca real estate is seeing stability. Majorca as it is sometimes known is one of the most important Balearic Islands that offer some stunning properties in the form of cottages, apartment, single owner homes, and sprawling villas. It is a dream destination for several Europeans with 70% of the investors being Germans.

The demand for real estate property in Mallorca continued through 2007 and is still there as we stand at the end of 2008. If you are planning to buy a home in Majorca then there are several benefits you can derive apart from the fact that the price tag is not as high as you would expect from an island that has so much to offer. As of date, there are 54,000 EU residents including 19,623 British investors and home-owners who have brought properties here and have settled down as well. The permanent foreign community in Mallorca is 16.8%, which is the highest in Spain and includes people from the UK, France, Germany, Italy, and South America. As a result, there has been a 31% increase in the overall population of Mallorca, which is now 791,000. Why is Mallorca real estate so popular?

There are many faces of Majorca and one of them is natural beauty accompanied by therapeutic experience. Imagine having a home on a cliff that has mountains dominating on one side and the clear blue sea on the other. 

There is no dearth of flora and fauna in Mallorca and above all, there are no eye sores on the entire island. If you are planning to buy a home in Mallorca, then one of the salient points is that the cost of living is low and there is a lot of activity that you can be involved in. You can laze around in the sun or take a dive in the ocean to get to close to the exotic marine life. You can spend your weekends playing golf or take your family for a beach adventure.

The most popular property type in Majorca is apartments and they are available from EUR100,000 to EUR700,000. Each apartment in Mallorca has its own charm and is situated in the best possible locale so that you can enjoy the true essence of this Balearic Island.